System for savings and tax management of gratuity income

Details System for savings and tax management of gratuity income System for savings and tax management of gratuity income

2008-07-08

2008-07-08

Trammell, Jim (Department: 3694)

Data processing: financial, business practice, management, or co

Automated electrical financial or business practice or...

Finance

Reexamination Certificate

active

07398238

ABSTRACT:
An investment system provides for multiple employers. The employers withhold payments to employees according to preferences defined by the employee. The employer forwards the withholding to an investment account manager who manages accounts for each employee. The account manager pools the withholding from the employees and invests the money in proportion to the preferences stated by the employees in the plan. Employees may change employers without affecting their accounts. Tax information may be calculated by the system to ensure accurate gratuity accounting and tax compliance on the part of the employer.

REFERENCES:
patent: 5850077 (1998-12-01), Tognazzini
patent: 5933812 (1999-08-01), Meyer et al.
patent: 5943655 (1999-08-01), Jacobson
patent: 6041313 (2000-03-01), Gilbert et al.
patent: 6401079 (2002-06-01), Kahn et al.
patent: 6591281 (2003-07-01), Kawasaki
patent: 6848613 (2005-02-01), Nielsen et al.
patent: 2001/0014873 (2001-08-01), Henderson et al.

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